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Global MBA Rankings 2010: The London Business School gets top ranking in the Financial Times rankings of the world's top 100 MBA programmes. UCD's Smurfit School slipped one rank to 99th place.

The annual list also for the first time includes three Chinese schools in the top 30 - - the Hong Kong University of Science and Technology (ranked nine); the China Europe International Business School in Shanghai (22) and the Chinese University of Hong Kong (28).

LBS is followed by the University of Pennsylvania and Harvard.

In 2009, the Smurfit Business School got a 22nd rank in the top 70 European business schools.

The rise of the LBS - - - based on a combination of strong research and global teaching - - over the past 12 years, has mirrored the declining dominance of US-based schools.

According to the FT, in 1999, when LBS was ranked eight, there were 20 US-based schools and four other European institutions in the top 25. Twelve years later, there are just 11 US schools in this cadre, with 11 from Europe and three from Asia.

US business schools have seen their graduates facing a tough job market this year with 23 per cent failing to find a job three months after graduation, according to data supplied to the FT. By comparison, just 14 per cent of alumni of Asian schools found themselves without a job.

The FT also says there is also evidence that the salary premium once enjoyed by graduates from the elite business schools of the US is on the wane, with graduates from top schools often in debt to the tune of $50,000-$100,000.